Latvian Lats

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Latvian Lats

The currency of Latvia. It was introduced in 1993, replacing the Latvian rublis, which replaced the Soviet ruble. Since 2005, the lats has been pegged to the euro in a band set by the European Exchange Rate Mechanism; this is in preparation for replacement of the lats with the euro at some point during or after 2012.
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The Latvian lat has been stuck at the maximally weak end of its band against the euro, but other regional currencies have suffered less from contagion fears than when Latvia faced similar problems with its budget in mid-2009.
Speculation over a devaluation of the Latvian lat has led to a freezing up of Latvian money markets and hit Swedish banking stocks in recent weeks, because Swedish banks are exposed to the Latvian economy.
I know that moaning city-types are about as relevant to Fermanagh folk as last week's Latvian Lat exchange rate (0.
By entering the Eurozone Latvia has changed its national currency from Latvian Lats (LVL) to Euro (EUR).
Since Wednesday, it has no longer been possible to make payments in Latvian lats, the two-week dual circulation period having ended on 14 January.
There will be a dual circulation period of two weeks, during which the two currencies will circulate alongside each other in order to allow for a progressive withdrawal of Latvian lats.
We understand that people like using the Latvian lats and that it is an important symbol," he said.
dollar (USD) - Czech koruna (CZK) - Danish krone (DKK) - Estonian kroon (EEK) - Hungarian forint (HUF) - Latvian lats (LVL) - Lithuanian litas (LTL) - Polish zloty (PLN) - Swedish krona (SEK)
As per the agreement, Latvia's central bank may borrow up to EUR500m in exchange for Latvian lats.
8 million Latvian lats (about EUR 10 million) each.
Since yesterday, it has no longer been possible to make payments in Latvian lats, the two-week dual circulation period having ended on 14 January.
According to the Commission survey2, most people who made a purchase in cash on 2 January used Latvian lats, in order to use the old currency in shops rather than having to go to a bank to exchange them.

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